Crown Equity Release Plan
Application Form
ALL SECTIONS MUST BE FULLY COMPLETED
About You
Applicant 1 Applicant 2
Title
Forenames
Surname
Sex Male Female Male Female
Date of Birth DD/MM/YYYY DD/MM/YYYY
Marital Status Married Single Married Single
Divorced Co-habiting Divorced Co-habiting Civil Partnership Widowed Civil Partnership Widowed Nationality
Address
Postcode
Residential status Time at current address
Telephone
Please answer all questions fully in BLOCK CAPITALS in black/blue ink. If the property is owned jointly, for example with your Spouse or Partner, the application must be in joint names. If you are unsure about anything please speak to your Financial Adviser. Please add a separate sheet if you need more space, or to tell us if there are any other facts which you think may be relevant to your application.
Property Description
Type of property House Bungalow
Flat Maisonette
Purpose built Conversion
Walls Brick Stone Other
If other please give details
Roof Tile Slate Other
If other please give details Approximate year built
Is the property in good repair? Yes No
Is the property part of a retirement development? Yes No
Is the property an exlocal authority property?- Yes No
Tenure Freehold Leasehold Ownership of Land (Scotland)
If leasehold, number of years remaining on lease*
Is any part of the property used for business purposes? Yes No Does the property form part of a larger building used for business Yes No
Yes No
purposes?
If you have ticked either flat or maisonette
If you have joint applicants will you both own the property?
If the property is registered in one name this doesn’t matter as our lease covers both applicants.
About Your Plan
Are you in receipt of any other pensions in addition
to the state Old Age Pension? Yes No
Do you receive any state benefits?
Yes No
Yes No
Yes No
Yes No
Please select the main reason for releasing equity in your home
Home improvements Debt consolidation Long term care funding
Holiday home Repay mortgage IHT planning
Travel Car Gift
Other (please specify)
Council tax rebate Income support Attendance allowance Other (please state)
Yes No
Have you informed your family that you are considering selling the whole or part of your home for less than its present market value to raise capital?
Yes No
their inheritance on your home on your death?
Any outstanding mortgage or secured loan must be repaid before or on completion. Your solicitor will handle the redemption of the loan or mortgage for you.
Additional Information
Please give details of your solicitors or legal advisers
Solicitor or Legal Representative’s Name
Name and Address of Firm
Telephone Number (incl STD code) E mail
Please give details of your independent financial advisor
Your Personal Data
We strongly recommend that you use a solicitor with expertise in equity release, for example, Solicitors for the Elderly (SFE) www.solicitorsfortheelderly.com and Equity Release Solicitors Alliance (ERSA) www.ersalaw.co.uk
The information you provide to us will be processed and used to administer your application.
Any information that we collect about you is stored electronically on our database. It may also be printed and stored in our filing system. We will keep your personal information confidential except to the extent that we are compelled to disclose it by law (for example where fraud or other crime is involved) or to comply with an instruction of a regulatory body of competent jurisdiction.
To comply with the Data Protection Act 1998 we adhere to appropriate security procedures. The personal information which we hold will be held securely to ensure no unauthorised disclosure or access.
Declaration and consent
Please read the following carefully before signing and dating the application.
Please check the statements below and only sign the declaration if you feel each statement fully reflects the advice you received.
1. I/We declare that the information given in this application is true and accurate to the best of my/our knowledge and belief
2. I/We confirm that I am/we are permanently resident in England, Wales or Scotland 3. I/We understand that the information provided
in this application will form the basis of the contract
4. I/We undertake to be responsible for the valuation fee and my/our own legal fees in connection with this Home Reversion Plan whether or not it proceeds
5. I/We agree that the payment of any valuation fee shall not in any way bind Bridgewater Equity Release Limited to grant a Home Reversion Plan and understand that the valuer’s report is not a structural survey. If a structural survey is required it must be obtained independently at my/our expense 6. I/We understand that the making of any offer
and/or granting of this Home Reversion Plan implies no warranty as to the construction or condition of my/our property
7. I/We authorise the lender for my/our current
9. I/We consent to the use of my/our personal information as set out in section 6 “Your Personal Data”
10. I/We authorise Crown Equity Release Limited, and their solicitor, to contact our insurance company to arrange for their interest to be noted on our insurance schedule.
11. My/Our equity release adviser discussed and fully documented :-
a. The financial implications of the plan reducing my/our estate and the effect on my/our personal tax and any entitlement to means tested state benefits
b. The risk and benefits of this plan with particular consideration to my/our health c. Alternative options such as trading down,
selling and moving to rented accommodation, a lifetime mortgage and postponing any action d. The benefit and requirement to take
independent legal advice
e. A recommendation that I/we consult fully with family, or material beneficiaries of my/our estate
f. That I/we will continue to be responsible for the maintenance and outgoings relating to the property
g. That I/we have the right to continue to live in my/our home for as long as I/we wish and are As a member of The Equity Release Council (ERC), Crown Equity Release Limited abides by the ERC Code of Conduct. A copy of the Code is available on the Council’s website (www.equityreleasecouncil.com) or on request. We only accept applications for home reversion plans through advisers who are authorised and regulated by the Financial Conduct Authority and who are permitted to advise customers on a home rever- sion plan. Please note we are not responsible for information given or any advice provided by any adviser.
Applicant 1 Applicant 2
Signed
Date
In order to speed up the completion of your application and release of funds, we recommend you spend some time gathering the documentation detailed below in preparation for your solicitors enquiries:
Please note that this document is designed to help prepare you for legal enquiries and is not an exhaustive list.
A copy of your current buildings insurance schedule showing the name and address of the insurers, the sum insured (which must be a minimum of the re-instatement value stated in your valuation report), the policy number and the expiry date. You will also need to contact your insurers to have “Bridgewater Equity Release Limited” noted as a joint or interested party on your policy.
Proof of your identity in the form of a valid passport or driving licence or, if this is not possible, a birth certificate and marriage certificate (if married) together with proof of address such as a utility bill from the last 3 months, a recent water bill or pension payment book.
Your birth certificate/s and marriage certificate (if a joint application and married) Title deeds to your property or details of where they are held.
If your property is leasehold, the last receipt for ground rent, the name and address of your landlord and the last three years’ service charge accounts (if applicable).
An Energy Performance Certificate (EPC). Your solicitors should be able to help arrange this for you.
If you have service agreements (boiler, heating etc.) then you will need to supply your solicitors with copies.
Original guarantees and/or certificates for any works at your property such as replacement windows, boiler or a conservatory etc.
Relevant planning permission and building control documentation for any works carried
Client Checklist
A Property Information Form and, if applicable, a Leasehold Information Form, which your solicitors will provide for you to complete. You will also be asked to supply copies of all documents referred to on the forms.
In addition, your solicitors will require you to sign the following documentation which will be provided by our solicitors at the earliest possible time:-
Counterpart Lease Transfer
Declaration of Trust (in flexible release cases)
Occupational waiver for any occupiers in the property over the age of 17.
Please do not send any of this information to us; all of the documentation should be provided to your solicitors, who will in turn pass it to our solicitors.
